What characterizes floating point data types?

Floating point data types are characterized by their ability to represent numbers that have a fractional component, which includes both whole numbers and decimals. This makes them particularly useful for scientific calculations, graphics, and any other applications where precision with fractional values is required.

The representation of floating point numbers allows for a wide range of values and is implemented through a format that can accommodate a significant number of digits after the decimal point, thus enabling more complex numerical computations than integer types can afford. This is essential for tasks such as financial calculations, simulations, and measurements where precision matters.

In contrast, the other characteristics do not align with the nature of floating point data types. For instance, they are not exclusively used for whole numbers, which is a trait of integer data types. While floating point types may consume more memory compared to simpler data types like integers, this is not an inherent defining characteristic. Lastly, floating point types are not meant for storing characters; that function is served by character data types. Thus, the defining feature of floating point types is indeed their inclusion of fractional data, making this the correct answer.